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Note: the 13 EiB pledged are real storage capacity: miners must provide a cryptographic proof every day, that they are storing this much space; or it doesn't co
by dannyw 5y ago
Note: the 13 EiB pledged are real storage capacity: miners must provide a cryptographic proof every day, that they are storing this much space; or it doesn't count. I still think crypto valuations are excessively, tulip-y high, but valuation/byte is pretty similar.
The cryptographic system that enables people to prove storage is called 'Proof of spacetime'; which sounds cringey, but it's pretty clever (begins at page 10): https://filecoin.io/filecoin.pdf https://filecoin.io/filecoin.pdf
Note that if you went to Backblaze and wanted to store 2 EB, it's unlikely they'll be able to serve you immediately (they probably can't get enough HDDs from their channels that quickly). However, you CAN store 2 EB on Filecoin the same way you can auto-scale on AWS.
- KaseKun 5y agoPeople have said "tulips and crypto" when bitcoin was at $800, $5000, $20000, and now at $50000. I wonder when (if) it will stop? I also wonder if crypto valuations are a reflection of truly "free market" economics. Where there is little-to-no barrier to entry as a creator or an investor, and there is complete impossibility of counterfeiting assets.
- dannyw 5y agoNo, it's not. Have you tried crypto projects? Scams and rug pulls are rampart. It's a wild west, and really not a good way if you are trying to invest in anything that's not Bitcoin or Ethereum.
- deepsun 5y agoSide-thought: User A "invested" $100 dollars into Bitcoin, thereby raising its price a little. Then, they accidentally lost the key (broken hard-drive, stolen laptop, forgot password etc). But Bitcoin price is still raised a little.
- michaelt 5y agoIf someone thought bitcoins were overpriced tulips at $500, why would they change their mind when they reach $50,000?